Tickstock posted a comment with some new about Mr. Oringer selling his majority in Shutterstock.

http://www.microstockgroup.com/shutterstock-com/sstk-to-sell-3m-more-shares/msg346974/#msg346974


http://www.nasdaq.com/article/weekly-ceo-sells-highlight-shutterstock-inc-autodesk-inc-cm281052

Shutterstock Inc. ( SSTK ): CEO, 10% Owner Jonathan Oringer Sold 2,530,000 Shares

CEO, 10% Owner Jonathan Oringer sold 2,530,000 shares of SSTK stock on 09/25/2013 at the average price of 57.3.

From what I understand he pocketed 144,969,000$ and that money is not going into the company. So his share in SS dropped from 55% to 10% and he is no longer calling the shots at Shutterstock.

Am I correct in thinking that?

I was thinking about that too. He had a billion, so that cash out is only 14%.

But I remember Joe saying he had 55% shares. Yahoo is saying he is 10% owner.

Maybe Joe or Paul can chime in, they know these things.

According to this the number of outstanding shares is 35 million.

And according to this Mr. Oringer still holds close to 16 million, which is not a majority anymore (but he is still the biggest shareholder).

But if he doesn't hold the majority of shares, can't someone else buy them and remove him as CEO?  Just trying to bring back the insomnia

1.2 Billion dollars. Would it be possible for Getty and partners to now get a foot in the door??

1.2 Billion dollars. Would it be possible for Getty and partners to now get a foot in the door??

Only a finger�

when the founder starts selling his own stock it's usually not a good sign but it could just be an agreement with a shareholder behind the scenes or the usual smoke & mirrors.

we will see.

People will usually sell for the right price and it would explain why it's going up so strongly.  Probably just coincidence but I've learned to expect the unexpected.

Shutterstock Inc. ( SSTK ): CEO, 10% Owner Jonathan Oringer Sold 2,530,000 Shares

CEO, 10% Owner Jonathan Oringer sold 2,530,000 shares of SSTK stock on 09/25/2013 at the average price of 57.3.

From what I understand he pocketed 144,969,000$ and that money is not going into the company. So his share in SS dropped from 55% to 10% and he is no longer calling the shots at Shutterstock.

He sold 2.5 million shares. Shutterstock has a market capitalization of $2.53 billion at a share price of $72.87 according to the article which would mean they have 34.7 million shares outstanding. 2.5 million shares would represent about 7.2% of the company.

In a recent article in Forbes it was stated Oringer owns 55% of the shares, therefore his share would now have dropped to 48%.

The "10% owner" piece in the information is probably something conected to stock market laws - people holding a certain share in a company have more obligations to report about their share development. It just means that Oringer is an owner holding "more than 10% of the company".

That's how I read this at least. 

But if he doesn't hold the majority of shares, can't someone else buy them and remove him as CEO?  Just trying to bring back the insomnia

Theoretically yes. But in reality they would need to buy almost all other shares - which means they would have to convince all other existing shareholders and would have to pay a huge premium.
With Oringer still holding above 45% that is very unlikely to happen.

Quote from: sharpshot on September 30, 2013, 07:11

But if he doesn't hold the majority of shares, can't someone else buy them and remove him as CEO?  Just trying to bring back the insomnia

Theoretically yes. But in reality they would need to buy almost all other shares - which means they would have to convince all other existing shareholders and would have to pay a huge premium.
With Oringer still holding above 45% that is very unlikely to happen.

There's still a risk though and the way Getty has been bought twice, I'm finding it hard to understand why he would risk losing SS when he could of sold some shares, made millions and kept 51%?

Tickstock posted a comment with some new about Mr. Oringer selling his majority in Shutterstock.

http://www.microstockgroup.com/shutterstock-com/sstk-to-sell-3m-more-shares/msg346974/#msg346974


http://www.nasdaq.com/article/weekly-ceo-sells-highlight-shutterstock-inc-autodesk-inc-cm281052

Shutterstock Inc. ( SSTK ): CEO, 10% Owner Jonathan Oringer Sold 2,530,000 Shares

CEO, 10% Owner Jonathan Oringer sold 2,530,000 shares of SSTK stock on 09/25/2013 at the average price of 57.3.

From what I understand he pocketed 144,969,000$ and that money is not going into the company. So his share in SS dropped from 55% to 10% and he is no longer calling the shots at Shutterstock.

Am I correct in thinking that?

According the this article he owned 18.5 million shares and now owns 15,970,000 shares out of 33,695,653 Shares Outstanding so we can add another 1 million to that number for 34,695,653 Shares Outstanding

http://www.macroaxis.com/invest/ratio/SSTK--Shares_Outstanding

If those numbers are current that would mean he now owns 46% of the co.  Personally I think that he gave up control when he made the choice to surround himself with the wall street crowd.

Looks like he sold -13.67% of his holdings

Snip

The 39-year-old owns about 55% of Shutterstock. His 18.5 million shares were valued at $1 billion earlier this morning.

http://www.businessinsider.com/jon-oringer-is-a-billionaire-2013-6#ixzz2fTX1wbIc

Snip

Outstanding Shares: 33,695,653

http://www.thestreet.com/quote/SSTK.html


After a bit more research I found what looks to be more accurate Total Outstanding Shares info, therefore I revised the links and #'s

Jon please unban Mike, like now!